Decrease £61 by 24% Give your answer in pounds (£).
The Correct Answer and Explanation is :
To decrease £61 by 24%, we first need to calculate how much 24% of £61 is and then subtract that amount from £61.
Step 1: Calculate 24% of £61
To find 24% of £61, we can use the formula for percentage calculation:
[
\text{Percentage Amount} = \text{Total Amount} \times \left( \frac{\text{Percentage}}{100} \right)
]
Substituting in the values:
[
\text{Percentage Amount} = 61 \times \left( \frac{24}{100} \right) = 61 \times 0.24
]
Calculating this gives:
[
\text{Percentage Amount} = 14.64
]
Step 2: Subtract the percentage from the original amount
Now, we subtract the calculated percentage from the original amount:
[
\text{New Amount} = \text{Original Amount} – \text{Percentage Amount}
]
Substituting in the values:
[
\text{New Amount} = 61 – 14.64
]
Calculating this gives:
[
\text{New Amount} = 46.36
]
Conclusion
Thus, when £61 is decreased by 24%, the final amount is £46.36.
Explanation of the Calculation Process
Understanding how to calculate percentages is vital for many financial decisions, such as budgeting, discounts, and price reductions. In this case, we first determined how much 24% of £61 represents by converting the percentage to a decimal and multiplying it by the total amount. This step is crucial as it gives us the precise reduction amount.
Next, we performed a simple subtraction to find the new total after the decrease. This method can be applied to various financial scenarios, from understanding discounts while shopping to calculating tax deductions or evaluating salary changes.
Being proficient in these calculations enables better financial management and informed decision-making. Additionally, it can help in comparing prices or evaluating potential savings over time. Thus, practicing percentage calculations can greatly enhance one’s mathematical skills and financial literacy.